CANADA – At the close of the third quarter of 2019, analysts at Lodging Econometrics (LE) report that the total hotels construction in Canada soared to an all-time high with 289 projects/38,453 rooms.

Construction projects are up 17% and rooms are up a remarkable 28% year-over-year (YOY).

Currently, there are 85 projects/10,337 rooms under construction. Projects scheduled to start construction in the next 12 months have experienced an extraordinary 47% increase in both projects and rooms, Year on Year, standing at a record high of 125 projects/14,574 rooms.

Projects in the early planning stage stand at 79 projects with an impressive 13,542 rooms. This is an 8% increase in projects and a 46% increase in rooms.

This substantial rise in rooms has increased the average hotel size in the early planning stage from 127 rooms a year ago to 171 rooms currently.

In the third quarter, Canada had 47 new project announcements with 5,760 rooms.

This is the largest count that LE has recorded in the country for a single quarter and is a 42% increase quarter over quarter.